Sustainable developments – Wyatt Street

Centuria’s in-house development division provides an essential role in delivering our listed and unlisted funds with new assets to expand and enhance their portfolios. In recent years this has included new industrial, retail, commercial office and healthcare properties, in addition to redeveloped and refurbished assets.

With each new development, the team values certain sustainability initiatives it knows adds value to all stakeholders. This includes designing new developments to achieve a Green Star rating and including the traditional landowners as part of opening ceremonies.

These strategies were exemplified at the recent opening of our recently completed 57 Wyatt Street office building in the heart of Adelaide’s CBD. This modern A-Grade office building provides a range of environmentally sustainable features, including:

• designed to a 5 Sstar Green Star Rating
• targeting a 5.5 star NABERS Energy Rating
• facade treatments that reduce solar glare, increase thermal efficiency & provide fresh air
• electricity only provisions (no gas)
• shared services with adjoining buildings increasing efficiencies
• c.90% of total construction waste was diverted from landfill during development
• one of Adelaide’s best roof top amenities and End of Trip facilities for building occupants and tenants.

Additionally, the opening event welcomed Kaurna elder Corey Turner of the Adelaide Plains who hosted a traditional Smoking Ceremony and Welcome to Country.

In terms of Governance, Centuria has formed long-term, dependable relationships with its key development partners including building contractors, who deliver viable, high-quality projects. In particular, Wyatt Street highlights Centuria’s well-established relationship with Hindmarsh Constructions, one of Adelaide’s oldest and most established builders.

Working with Hindmarsh, Centuria restructured the site’s very complicated land titles, securing extraordinary consents from neighbours and authorities, constructed over the adjoining car park access, and reactivated the site’s street frontage. This was a significant achievement in one of the most challenging development environments and commercial office markets. Significantly, the office building was nearly fully leased at completion.